Last checked at 31 Oct 2012 11:08
Secretary's Department
UBL/BOD/KSE/Results
31 October 2012
FORM- 7
Fax No. 111-573-329
The Managing Director
The Karachi Stock Exchange (Guarantee) Limited
Stock Exchange Building
Stock Exchange Road
Karachi
Dear Sir,
FINANCIAL RESULTS FOR THE THIRD QUARTER ENDED 30-09-2012
We have to inform you that the Board of Directors of United Bank Limited ("UBL") in their 180th meeting held on 31 October 2012 at 11:00 a.m. (UAE Time) at Abu Dhabi, UAE declared the following:
(i) CASH DIVIDEND
Third Interim Cash Dividend for the year ending December 31, 2012 at Rs.2.00 per share i.e. 20%.
(ii) BONUS SHARES
------NIL------
(iii) RIGHT SHARES
------NIL---------
(iv) ANY OTHER ENTITLEMENT / CORPORATE ACTION
------NIL-------
(v) ANY OTHER PRICE-SENSITIVE INFORMATION
----NIL-------
The Share Transfer Books of the Company will be closed from 22-11-2012 to 30-11-2012 (both days inclusive). Transfers received at the office of the Company's Share Registrar, M/s. THK Associates (Pvt.) Ltd. Ground Floor, State Life Building No.3, Dr. Ziauddin Ahmed Road, Karachi at the close of business on 21-11-2012 will be treated in time for the purpose of above entitlement to the transferees.
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The financial results of the Company are appended at Annexure "A" for Standalone & Annexure "B" Consolidated Accounts of the said period.
We will be sending you 300 copies of printed Accounts for distribution amongst the members of the exchange.
Yours faithfully,
Aqeel Ahmed Nasir
Company Secretary &
Chief Legal Counsel
C.C. to : 1) Citibank, N.A. Karachi Branch, Custodian of UBL, GDRs
2) London Stock Exchange
3) State Bank of Pakistan
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UNCONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) | |||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 | Annexure A | ||||||||||||
Jul-Sep 2012 | Jul-Sep 2011 | Jan-Sep 2012 | Jan-Sep 2011 | ||||||||||
------------------------------(Rupees in '000)---------------------------- | |||||||||||||
Mark-up / return / interest earned | 19,214,270 | 18,454,930 | 55,469,908 | 52,532,426 | |||||||||
Mark-up / return / interest expensed | (9,285,848) | (8,152,142) | (26,330,891) | (22,898,926) | |||||||||
Net mark-up / interest income | 9,928,422
|
| 10,302,788 | 29,139,017 | 29,633,500 | ||||||||
Provision against loans and advances - net | (1,735,043) | (1,419,145) | (2,694,647) | (5,831,076) | |||||||||
Provision against lendings to financial institutions - net | (15) | - | (171,039) | (91,354) | |||||||||
Provision for diminution in value of investments - net | (98,966) | (46,468) | (78,068) | (251,983) | |||||||||
Bad debts written off directly | (69,316) | (103,324) | (262,351) | (336,440) | |||||||||
(1,903,340) | (1,568,937) | (3,206,105) | (6,510,853) | ||||||||||
Net mark-up / interest income after provisions | 8,025,082 | 8,733,851 | 25,932,912 | 23,122,647 | |||||||||
Non mark-up / interest income | |||||||||||||
Fee, commission and brokerage income | 1,949,215 | 1,711,515 | 5,913,844 | 4,991,508 | |||||||||
Dividend income | 77,912 | 107,757 | 1,520,686 | 429,750 | |||||||||
Income from dealing in foreign currencies | 486,210 | 441,235 | 1,533,292 | 1,516,804 | |||||||||
Gain on sale of securities - net | 128,800 | 49,209 | 591,086 | 245,115 | |||||||||
Unrealized gain on revaluation of investments | |||||||||||||
classified as held for trading | 11,167 | 106,216 | 3,436 | 54,847 | |||||||||
Other income | 2,833,111 | 622,395 | 3,606,655 | 1,698,893 | |||||||||
Total non mark-up / interest income | 5,486,415 | 3,038,327 | 13,168,999 | 8,936,917 | |||||||||
13,511,497 | 11,772,178 | 39,101,911 | 32,059,564 | ||||||||||
Non mark-up / interest expenses | |||||||||||||
Administrative expenses | (6,057,784) | (5,016,266) | (17,343,400) | (14,758,344) | |||||||||
Other provisions - net | (44,754) | (14,724) | (212,702) | (1,020) | |||||||||
Workers' Welfare Fund | (145,537) | (151,111) | (421,954) | (369,820) | |||||||||
Other charges | (25,231) | (67,661) | (77,622) | (178,622) | |||||||||
Total non mark-up / interest expenses | (6,273,306) | (5,249,762) | (18,055,678) | (15,307,806) | |||||||||
Profit before taxation | 7,238,191 | 6,522,416 | 21,046,233 | 16,751,758 | |||||||||
Taxation | |||||||||||||
- Current | (2,584,035) | (2,670,332) | (7,153,001) | (6,485,379) | |||||||||
- Prior | (491,853) | (370,165) | (491,853) | (362,636) | |||||||||
- Deferred | 577,839 | 765,990 | 656,582 | 1,048,707 | |||||||||
(2,498,049) | (2,274,507) | (6,988,272) | (5,799,308) | ||||||||||
Profit after taxation | 4,740,142 | 4,247,909 | 14,057,961 | 10,952,450 | |||||||||
------------------------------( Rupees )---------------------------- | |||||||||||||
Earnings per share - basic and diluted | 3.87 | 3.47 | 11.48 | 8.95 | |||||||||
CONSOLIDATED CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 Annexure B
Jul-Sep 2012 | Jul-Sep 2011 | Jan-Sep 2012 | Jan-Sep 2011 | |||||
----------------------- (Rupees in '000) ----------------------- | ||||||||
Mark-up / return / interest earned | 19,732,001 | 18,690,009 | 56,685,115 | 53,197,019 | ||||
Mark-up / return / interest expensed | (9,511,776) | (8,223,404) | (26,805,081) | (23,072,829) | ||||
Net mark-up / interest income | 10,220,225 | 10,466,605 | 29,880,034 | 30,124,190 | ||||
Provision against loans and advances - net | (1,735,043) | (1,419,145) | (2,694,647) | (5,831,076) | ||||
Provision against lendings to financial institutions - net | (15) | - | (171,039) | (91,354) | ||||
Provision for diminution in value of investments - net | (98,966) | (46,468) | (78,068) | (254,013) | ||||
Bad debts written off directly | (69,333) | (103,324) | (263,793) | (336,440) | ||||
(1,903,357) | (1,568,937) | (3,207,547) | (6,512,883) | |||||
Net mark-up / interest income after provisions | 8,316,868 | 8,897,668 | 26,672,487 | 23,611,307 | ||||
Non mark-up / interest income | ||||||||
Fee, commission and brokerage income | 2,255,443 | 1,930,218 | 6,827,658 | 5,587,706 | ||||
Dividend income | 77,704 | 34,198 | 374,336 | 131,186 | ||||
Income from dealing in foreign currencies | 502,424 | 459,252 | 1,577,926 | 1,567,887 | ||||
Gain on sale of securities - net | 217,773 | 49,889 | 718,791 | 255,965 | ||||
Unrealized gain on revaluation of investments | ||||||||
classified as held for trading | 11,795 | 108,475 | 891 | 62,356 | ||||
Other income | 2,841,914 | 641,626 | 3,671,447 | 1,748,649 | ||||
Total non mark-up / interest income | 5,907,053 | 3,223,658 | 13,171,049 | 9,353,749 | ||||
14,223,921 | 12,121,326 | 39,843,536 | 32,965,056 | |||||
Non mark-up / interest expenses | ||||||||
Administrative expenses | (6,503,401) | (5,396,149) | (18,745,216) | (15,908,196) | ||||
Other provisions - net | (44,900) | (14,724) | (212,848) | (1,020) | ||||
Workers' welfare fund | (146,976) | (151,367) | (425,398) | (370,971) | ||||
Other charges | (25,231) | (67,661) | (77,622) | (178,622) | ||||
Total non mark-up / interest expenses | (6,720,508) | (5,629,901) | (19,461,084) | (16,458,809) | ||||
7,503,413 | 6,491,425 | 20,382,452 | 16,506,247 | |||||
Share of income / (loss) of associates | 652,304 | (26,109) | 1,712,614 | (100,669) | ||||
Profit before taxation | 8,155,717 | 6,465,316 | 22,095,066 | 16,405,578 | ||||
Taxation | ||||||||
- Current | (2,624,991) | (2,672,451) | (7,232,782) | (6,492,146) | ||||
- Prior | (491,853) | (370,165) | (491,853) | (362,636) | ||||
- Deferred | 576,600 | 766,301 | 653,504 | 1,047,953 | ||||
(2,540,244) | (2,276,315) | (7,071,131) | (5,806,829) | |||||
Profit after taxation | 5,615,473 | 4,189,001 | 15,023,935 | 10,598,749 | ||||
Attributable to: | ||||||||
Equity shareholders of the Bank | 5,553,753 | 4,176,252 | 14,938,916 | 10,596,978 | ||||
Non-controlling interest | 61,720 | 12,749 | 85,019 | 1,771 | ||||
5,615,473 | 4,189,001 | 15,023,935 | 10,598,749 | |||||
------------------------------------ (Rupees) ------------------------------------ | ||||||||
Earnings per share - basic and diluted | 4.54 | 3.41 | 12.20 | 8.66 | ||||